PROVIDENCE RES. Providence Resources P.L.C. - Grant Of Share Options

13/01/2020 7:00am

UK Regulatory (RNS & others)

TIDMPVR
Providence Resources P.l.c.
Grant of Share Options
Dublin and London -- January 13, 2020 - Providence Resources P.l.c.
("Providence" or the "Company"), the Irish based energy company,
announces that the Board has agreed to award a total of 15,000,000
options over ordinary shares of EUR0.001 in the Company (the "Options")
to Alan Linn, the newly-appointed Chief Executive Officer of the
Company. The Options will be issued under the Providence Resources
P.l.c. Employee Share Option Plan 2020 which is being established, and
the award is therefore conditional on the approval of Shareholders at a
forthcoming Extraordinary General Meeting of the Company to be convened.
The Options will vest in three equal tranches on each of the first,
second and third anniversary of the grant date with an exercise price of
four (4) pence per share.
For further information please contact:
ENQUIRIES
---------------------------
Providence Resources P.l.c. Tel: +353 1 219 4074
Pat Plunkett, Chairman
Alan Linn, CEO
Cenkos Securities plc Tel: +44 131 220 9771
Neil McDonald/Derrick Lee
J&E Davy Tel: +353 1 679 6363
Anthony Farrell
Mirabaud Securities Limited Tel: + 44 20 3167 7221
Peter Krens
MEDIA ENQUIRIES
---------------------------
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
ABOUT PROVIDENCE RESOURCES PLC
Providence Resources is an Irish based Energy Company with a portfolio
of appraisal and exploration assets located offshore Ireland.
Providence's shares are quoted on the AIM in London and the Euronext
Growth Market in Dublin. Further information on Providence can be found
on www.providenceresources.com
FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements. Actual
results may differ materially from those projected or implied in such
forward-looking statements. Such forward-looking information involves
risks and uncertainties that could significantly affect expected
results. No representation is made that any of those statements or
forecasts will come to pass or that any forecast results will be
achieved. You are cautioned not to place any reliance on such statements
or forecasts. Those forward-looking and other statements speak only as
at the date of this announcement. Providence Resources Plc undertakes no
obligation to update any forward-looking statements.
Details of the person discharging managerial responsibilities
1. / person closely associated
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a) Name Alan Scott Linn
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1. Reason for the Notification
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a) Position/status Chief Executive Officer
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b) Initial notification/amendment Initial notification
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Details of the issuer, emission allowance market participant,
1. auction platform, auctioneer or auction monitor
----- ------------------------------------------------------------------------------
a) Name Providence Resources P.l.c.
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b) LEI 635400DSMSR5LZVGDI48
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Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
1. each date; and (iv) each place where transactions have been conducted
----- ------------------------------------------------------------------------------
Description of the Financial Award of options over Ordinary shares of
a) instrument, type of instrument EUR0.001 each.
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Identification code IE00B66B5T26
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b) Nature of the Transaction Award of Share Options
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c) Price(s) and volume(s) Price(s) Volume(s)
----- --------------------------------- --------------- --------------------------
4 pence 15,000,000
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d) Aggregated information n/a
Aggregated volume Price
----- --------------------------------- -------------------------------------------
e) Date of the transaction 10 January 2020
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f) Place of the transaction London Stock Exchange, AIM (LON:PVR)
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